Thursday, June 7, 2012

Nifty Pre-Market View.

Whenever the "iii"rd gets completed in the opening session, the "iv"th would playout.
Since the "ii"nd was a zigzag, the "iv"th is likely to be a "Flat or Triangle" to be followed by a "v"th.
"5020-5039(Last ST Tops) & then 5055-60(55DEma/200sma)" are the immediate resistance.
Above these is placed 50sma @ 5090+.
For supports, Day pivot @ 4965 & WEma @ 4945 must hold for continued rise.
"ii"nd wave's depth was 51 points.
Only EW study shows you the mapping technology as it did in our pre-market view chart of 06th June...anticipating a "iii"rd wave. And my kind of EW is the most elementary...they are just 1,2,3,4,5 or abc or i,ii,iii,iv,v or abcde. Be willing to readjust it along the way.
Being able to remain objective, no matter what, we continued to maintain the "B" wave correction and it may have ended at 4770 and a faster retracement to 5020 this morning would be the 1st confirmatory signal.
I have maintained this "B" stand once the top was identified exactly at 5630 using monthly pivot table in Feb.12. And along the way, we managed to decipher the correction quite well, playing almost all its downmoves using our elementary "abc" and "i,ii,iii,iv,v. In the process, we have
Got Rich slowly and quietly.


68 comments:

J.R.Julius said...

Good Morning Respected Mr.Illango, My Beloved Master Mr.Dinesh Rishi & All Blogmates, Have a Prosperous Day.

J.R.Julius said...

Camarilla Key Levels
Nifty Futures
H4 5036[BUY]
H3 5008[SELL]
L3 4950[BUY]
L4 4921[SELL]

prakashbkc said...

GM Master,

Master Last hour Low below previous hr low does it not indicate weakness?

San said...

Good Morning Ilango Sir and Friends

NIFTY resistance levels and a possible bullish engulfing in weekly chart: CLICK HERE

Nilesh Patil said...

Good Morning Master & Friends

Prabhat said...

GM master: A beaten to pulp student tries to rise from his underground bunker trying to survive the bull cluster bomb.

@PT: Kaha ho yaar....

@Sujatha Ma'm: No strength left to talk.

NEVER GIVE UP said...

good morning sir and all friends.

ALBELA HOUSE said...

R/ilango sir good morning n same 2 all reader's.

dayakar said...

Pranams Gurudev

buggie advani said...

PT is a smart investor he has his stoploss in place
cheers

Hari_Hyderabad said...

Good morning Master & Jn family

Parimal said...

Namaste beloved Master and all good friends
May the Lord bless us all
have a nice trading day

SANPOT said...

Good Morning Ilango Sir and blog mates.
Sir, you have mentioned 4935 as SAR/S.L. for conversative trades.Sir,this is not clear to me as JNSAR is 4906 and 5DEMA is 4919 above which ST is up. Pl explain.

Yash and Dhan said...

Good Morning Sir and all blog-mates.

VIJAY KUMAR said...

good morning master and all frnds
have a very good day

Prabakar said...

Namaste Ilango Sir and JN Family

saravanan k said...

Goo Morning Ilango Sir & all Blogmates

Rgds
Saravanan

NITIN KADAM said...

Overall view for today:-

Nifty, By closing above 4950 makes a Trend Reversal yesterday.Yesterday it was a clear bulls rally.Now 5042-5072 are immediate resistances crossing the same makes bulls comfortable to give close above 5100.World market suggesting a gap up opening , SGX Nifty 60+. Considering SGX, Nifty might cross resistances 5018 -5042 in opening session. 5072 seems to be a overbought level, so partial profit booking at this level is benificial.

4977-5018 - Support area .(Re-Buy opportunity.)

5042-5072 - Resistances ( Crossing 5072 , next Immediate target 5102. & 5174)

5072 - Overbought Level ( Partial Profit Booking )

Changing your sentiments as per the trend from bulls to bears or vice versa is hardest thing, but the most required for successful TRADING. TRADING game is always against human nature,

Winning our own emotions makes our way to success easier.

Current Trend: - UP.

Possible Movements:-


1.4997 < = > 5042 < = > 5018 < = > 5072 < = >5102 < = > 5174.
2. 4997 < = > 5042 < = > 5018 < = > 4977 < = >4948 < = > 4926 < = > 4904.



Two best rules for successful trading:-

1. Initiate position in the direction of trend near support & resistances.

2. Max stop loss - 30 points.

Happy disciplined trading to all.

Have a nice day!

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers

LV

daiyamt said...
This comment has been removed by the author.
Dinesh Rishi said...

Good Morning Master and copy to All

Got Rich slowly and quietly

It would not have been possible without you guidance My Master.

http://www.youtube.com/watch?v=wHir6W6HOPs

Jagan said...

Namaste Ilango Sir And All.

HARISH TAHKKAR said...

"Partbooking,Remaing objective,sitting tight,
diffirent mkt.conditions diff.tools to handle.
Act when your numbers fleshing on screens etc."
I remind myself all these to day is time to test
my skill to put knowledge in to actions.
1st opening > 5020 makes weekly Bar Reversal in
intra week.Friday close > will make perfect.
Most Relaible reversa pattern as per my knowing.

Nilesh Patil said...

@Dr Sir,
Truly Meaningful Song.

sushil said...

good morning master and blogmates

parminder said...

Master ilango and Dinesh ji
Good morning and copy to all
☺☺

Hari_Hyderabad said...

@ Julius sir

Can we go short in first 15 mnts also on break of 5008 cam sell level? (as the price is near 5008)

Kranti said...

Dear Ilango.. I need some assistance from you..I have this weakness of trying to Pre empt the moves and in the process of trying to catch the moves early i enter into positions which i shouldnt be.. for example when Nifty was resisting at 4948 briefly i was about to go short and asked your guidance.. You suggested for weakness to emerge before shorting.. From the point of TA / indicators , How do we see/wait for actual weakness / strenghth to enter or even exit , rather than pre empting the moves.. I am aware i am asking something too basic.. since i felt this is where i lack seriously i thought of asking you.. Your view you including what parametres to look at will be a great help.. Thanks

NOBLE said...

@ master
if u give any hint how many points regarding "iv" th....

Prabhat said...

@PT: I see break of 5005 to result in fast fall - maybe upto 4940 levels. But if nifty sustains above it, i see tgt of 5200 in coming week (grinding journey).

@Mynac: Though FII bought cash yest, they decrease in OI & price rise suggest they have covered thier shorts but not added any new fresh longs. Can you pls confirm?

Bhushan said...

Good morning Gurudev and friends

J.R.Julius said...

@Mr.Hari_Hyderabad,
After 9.30am. Before that only from aggressive
traders.

veer said...

@shriram,

I read your yesterday's explanation now. Thank you very much.

Regards,

Veer

Dinesh Rishi said...

Kumar Sir GM

u minting quietly quietly

but one day you will be singing this gazhal

http://www.youtube.com/watch?v=1RH_GN9ffNo&feature=related

Prithvi said...

ORB Trade

High 5042.30
Low 5029.65

shabsaif said...

Good Morning...............

Prithvi said...

ORB Broken Down Side

parminder said...

Master ilango,
Thanks for being there always.
Regards

shiva said...

good morning, seniors..

J.R.Julius said...

Camarilla Intraday - Trade1
Nifty Futures
H3 5008[SELL] triggered with SL of 20pts.

Dinesh Rishi said...

Prithvi

Leading the show :D

Kumar Technicals said...

Good Morning ILango Sir, D R Ji & everyone!

D R Ji....Ha ha ha...its one of my favourite Ghazals, thanx for refreshing my memories. One important quote:

ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense:))

VIJAY KUMAR said...

KUMAR SIR ji
good morning
sir i trade once in a day. And today i buy a bank. so if u feel i did mistake then plzz suggest me.
i m reading now master notes and trying to understand. (ab pata chala ki trading bhi ek science he.)

shriram said...

Morning everyone!

Kumar ji ka minor RES zone is @ 5057-5060 (also tallies with C.2 = 1.618xC.1)

5-10DEMA x-over in place further co-roborates that this upmove may be IMPULSIVE

So wot to do?

Wud be ideal to book LONGS @ 5050-5060 zone & re-enter on dips to 4955-4975. Always keep an eye on 34EMA, 30mins. Moment it stop supporting price, its time to shift tracks..

Have a gr8 trading day cheers!

Prithvi said...

DR Sir,

Want to be a part of JNsar system update helper.
So i understood only ORB system,and update it now everyday
If you dont mind.
Dont mind watch song,
Please find it yourself

Kadam Kadam badhae ja,khusi ke geet gai ja

Dinesh Rishi said...

VIJAY KUMAR

which bank you bought

I wanna send my resume?

if you are talking about BN

rule says

Touch BN if you have made profit(or no loss) in Nifty for continuous 3 months

Kranti said...

Kumar Sir

This is a gem

" ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense "

Wish i heard this before screwing up my finances ..

Ilango said...

Faster retracement of 5020 to 4770(25 Hours) done in "21 Hours".

A flat correction may have started from 5042(Pre-market's 5040).

iind wave's depth was of 51 points.

Supports @ 4985 presently.

Dinesh Rishi said...

Prithvi

My best wishes are with you

I would like you to read an article by
Dr. Jignesh Shah Nifty Doctor
(Google it and post the link here
so everybody can read it)

mynac said...

Dear Prabhat,
Shorts are must for up move...because then only Bulls can force Bears to cover it @ higher level,whenever they have upper hand...

At present due to lack of that kind of favorable data,market may or may not go up from here for some more points but as Hrly data does not support the move strongly,it shall not be long lasting,atleast for the day is understanding...on the contrary,when it shall fail to trade above Hrly.pivot or Hrly.Hema,the chances of running correction are there is simple view for "the day...

SOBISH184 said...

JR THANKS IM SHORTED......TGT?

Dinesh Rishi said...

Prithvi

article by
Dr. Jignesh Shah Nifty Doctor

on ORB

prakashbkc said...

Prabhat sir,

Me too mutilated by Bull desie bomb.Now trying to rise from ashes

NOBLE said...

@ master
can ii wave depth = iv wave depth ?

Dinesh Rishi said...

Dr Kumar Sir

I knew

ALWAY REMEMBER "Money is not everything in Life" but make sure & earn sufficient before thinking such nonsense:))

I earned sufficient by selling all my ancestral property.

Lolzzzzzzzzzzzzzz

VIJAY KUMAR said...

thank you dinesh rishi
i place order for sbi fut but didnt come at my price. but is it right to buy now sbi fut or bnf

Ilango said...

@ NOBLE ,

I reminded you of "ii"nd wave depth to understand the strength/ weakness of bull & bear during the "corrective stages".

It need not be equal.

prakashbkc said...

Master,

if iii rd wave retrace more than 100% then can'nt iv retrace more than 51?

rajesh stock said...

For ORB trading being applied to different markets, it should be observed and concluded for "efficiency".

For Nifty, it works quite well during trending time/ reversal time but not good during "range bound days"...........SIR U TOLD YESTERDAY...BUT IF MARKET RANGY..IN WHICH INDICATOR I USED..PLESS TELL

Jigar said...

@ Vijay Kumar ,

Do you have Microsoft Excel installed ? If not please install it and use it for 2 months even before touching Nifty :)

VIJAY KUMAR said...

yes jigar ji i have excel but guide me to do it

Hari_Hyderabad said...

Here is the link for Nifty doctor's article on orb trading

http://niftydoctor.blogspot.in/2009/04/opening-range-breakout.html

Dinesh Rishi said...

VIJAY KUMAR

I dont track SBI

did you read BN trading rule & do u qualify it

Jigar said...

@Vijay Kumar

I am not able to see your email ID , please make changes to your profile settings so that I can see your email ID and please dont post your email ID here directly , ppl can view it from your profile.

DKG said...

@ Vijay Kumar,

You bought a 'Bank' !! Can you give me loan of 1 crore? So I can trade in nifty...

rajesh stock said...

@ HARI.................THNX TO POST EHIS ARTICL

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